Thread: Dragon Riders GBP/JPY

1st target 149,66 which 61,8% fib retracement??

Of course fad is long, but in the mean time: It must be shed. , only in the future... pls wait.

Originally Posted by ;

of course trend is long, but in the mean time: It should be drop. , only in the future... pls wait.

It ought to found sellers around 149-150

price should consolidate there until resuming the downtrend and seem to check 145

Originally Posted by ;

quote hold your buy with sl at today's asian low Picture Picture

Upgrade from yesterday's trade

all target hit

Originally Posted by ;

quote it should found sellers around 149-150 price should combine there until resuming the downtrend and look to test 145

sold 1 48.95 , I am your first seller

Originally Posted by ;

149 here we encounter

It broke out above it. I think it may even hit 150.00.

Originally Posted by ;

quote It broke out over it. I think that it may even hit 150.00.

Also Seeking to 150.000

upgrade again

there's another harmonic pattern I found after seeing the H4 TF, which is the Bearish Butterfly



gosh the Currency Market world is actually complied and interesting ...

2 harmonic patterns in one chart (can be seen through H1 TF and H4 TF)

but I tend to think that this Bearish Butterfly should negates the Bearish Crab pattern I mentioned in the post above, since LARGER WAVE always overwrites the SMALLER WAVE

which is why u can try your luck selling now (in my prior post) in 149.00, with SL in 149.40 and try target possibly 61.8 percent of those Crab CD leg in 148.40 (or possibly not hit)

but eventually I think...
the Bearish Butterfly after matching all criteria accurately

should watch price reach 261.8 percent of BC leg in 149.76 , collectively with confluence of the Monthly Pivot in 150 level, GBPJPY should see a sharp drop

see photo below:

bearish fur rule details infusion from:
http://forextraininggroup.com/tradin...ern-structure/

XA: This is the first move that creates that pattern. No rules are required for this particular move.
AB: The B point is the most critical amount for the Butterfly pattern also it should retrace 78.6 percent of XA leg.


BC: The BC move should take the 38.2 percent or 88.6 percent retracement of the AB move.


CD: If BC is 38.2 percent of AB, then CD is Very Likely to reach at the 161.8% expansion of BC.
On the flip side, if BC is 88.6 percent of AB, then CD is likely to reach at the 261.8% expansion of BC.


AD: Then, the Overall AD transfer that consists of AB, BC, and CD should be 127.0 percent or 161.8 percent of XA. (THIS CRITERIA is not matched, if CD will to go 261.8% then it will surely move above 161.8 percent of XA)

After 8 bullish times we return to examine two significant levels that were broken about two weeks ago.

Originally Posted by ;

quote Also seeking to 150.000

I think it is certainly possible, despite the correction it's forming right now.